Wheat

Wheat futures settled the day with most CBT and KC contracts 2 to 4 1/4 cents lower. MPLS was down in the nearby contract but higher in the back months. Export inspections of wheat for the week that ended Jan 11 totaled 368,651 MT. That was a 56.73% improvement over the previous week but still 4.38% behind same week in 2017. Exports so far in the 17/18 MY are at 15.136 MMT, down 6.5% from the same time in the 16/17 MY. Japan is seeking 24,160 MT of US wheat in their weekly MOA tender, with a total of 91,733 MT sought from Australia, Canada, and the US. Egypt’s GASC purchased 295,000 MT of Russian wheat on Tuesday following Monday’s tender.

Mar 18 CBOT Wheat closed at $4.16 1/2, down 4 cents,

Mar 18 KCBT Wheat closed at $4.22, down 4 1/4 cents,

Mar 18 MGEX Wheat closed at $6.11 1/2, down 1 1/4 cents




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


 

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.